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This excerpt taken from the FL 8-K filed Jun 5, 2007. Term
and Exercisability of Freestanding SARs. Each
Award Agreement shall provide the exercise schedule for the freestanding SAR
as determined by the Committee, provided that the Committee shall have the authority
to accelerate the exercisability of any freestanding SAR at such time and under
such circumstances as it, in its sole discretion, deems appropriate. The exercise
period shall be ten (10) years from the date of the grant of the freestanding
SAR or such shorter period as is determined by the Committee. The exercise period
shall be subject to earlier termination as provided in paragraph (b)(7) hereof.
A freestanding SAR may be exercised, as to any or all full shares of Stock as
to which the freestanding SAR has become exercisable, by written notice delivered
in person or by mail to the Secretary of Foot Locker, specifying the number
of shares of Stock with respect to which the freestanding SAR is being exercised.
For purposes of the preceding sentence, the date of exercise will be deemed to
be the date upon which the Secretary of Foot Locker receives such notification.
(4) |
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